Guideline Value for RAJALAKSHMI AVENUE 2ND STREET (CROSS STREET)

Rajalakshmi Avenue 2nd Street (Cross Street) guideline value

The current guideline value of Rajalakshmi Avenue 2nd Street (Cross Street) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Rajalakshmi Avenue 2nd Street (Cross Street) has changed

The guideline value for Rajalakshmi Avenue 2nd Street (Cross Street) has seen several changes over the years. In the 2007 revision, the value was Rs 1,795 per sq.ft, which increased to Rs 3,000 per sq.ft in the 2012 revision, marking a 67% rise. However, in the 2017 revision, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The 2023 revision saw a significant increase to Rs 3,000 per sq.ft, followed by a further rise to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 84%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which matches the current value of Rajalakshmi Avenue 2nd Street (Cross Street).

• Rajalakshmi Avenue 1st Street (Cross Street): Rs 3,300 per sq.ft (2024)
• Rajalakshmi Avenue 3rd Street (Cross Street): Rs 3,300 per sq.ft (2024)
• Rajalakshmi Avenue 4th Street (Cross Street): Rs 3,300 per sq.ft (2024)
• Rajalakshmi Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Rajiv Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Rajiv Nagar 2nd Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rajalakshmi Avenue 2nd Street (Cross Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajalakshmi Avenue 2nd Street (Cross Street)?

The Sub Registrar Office that covers Rajalakshmi Avenue 2nd Street (Cross Street) is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Perungudi

The guideline value is a crucial factor when buying or selling property in Perungudi, as it determines the amount of stamp duty and registration fees payable during the registration process. Buyers should ensure they are aware of the current guideline value to accurately assess their total costs.

When a property is sold, the guideline value serves as a benchmark for the transaction, ensuring that the sale price is in line with the established values in the area. This helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Rajalakshmi Avenue 2nd Street (Cross Street)?

The current guideline value of Rajalakshmi Avenue 2nd Street (Cross Street) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, from Rs 1,795 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 84% over the years.

What is the land classification for Rajalakshmi Avenue 2nd Street (Cross Street)?

The land classification for Rajalakshmi Avenue 2nd Street (Cross Street) is Residential Class II Type - II.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Rajalakshmi Avenue 2nd Street (Cross Street)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,31,000.